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A Flush Data Domain Raises Revenue Guidance

De-dupe specialist Data Domain shrugged off concerns about the economy last night, posting a strong set of first quarter results.

Much has been made of the perceived slowdown in IT spending,” said Data Domain CEO Frank Slootman, during a conference call last night, adding that he saw “nothing noteworthy” in the macroeconomic climate in January and February that might affect company performance.

The vendor did see some softness and “lackluster sentiment” in March, but Slootman is not exactly panicking. “It’s hard to know how much of it is from seasonality."

Data Domain’s first quarter revenues were $52.6 million, a massive 160 percent hike on the same period last year, and well above analyst estimates of $47.2 million.

On a GAAP basis, the vendor’s first quarter earnings were 4 cents per share on net income of $2.7 million, compared to a net loss of $1.5 million and 18 cents per share in the first quarter of 2007.

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